Azerbaijani banks' total assets increased in December last year 822.2 million or 4.9% to 17,643.4 mln. Since the beginning of the banking assets grew by 26.5%.
According to the Central Bank of Azerbaijan, credit investments at 1 January 2013 amounted to 12399.4 million manat, an increase in the reported period by 5.8%. Over the past year, lending to the economy grew by 27.8%.
Deposits in banks in December increased 350.4 million or 7.4% to 5113.4 million manat. This index since the beginning of the year has increased 24.1%.
The aggregate capital of the banking sector has increased in the period by 125.2 million or 5.1% to 2,573 mln AZN. During the year the figure rose by 686.7 million or 36.4%. - 15B -
Economics
-
Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
-
Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
-
The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
-
According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
Leave a review